Gabelli Funds LLC Increases Stock Position in ITT Inc. $ITT

Gabelli Funds LLC grew its position in ITT Inc. (NYSE:ITT) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 403,040 shares of the conglomerate’s stock after purchasing an additional 15,245 shares during the period. Gabelli Funds LLC’s holdings in ITT were worth $69,931,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Capital International Investors increased its holdings in ITT by 0.5% during the third quarter. Capital International Investors now owns 8,538,229 shares of the conglomerate’s stock worth $1,526,281,000 after buying an additional 38,433 shares during the last quarter. Vanguard Group Inc. increased its holdings in ITT by 7.9% during the fourth quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate’s stock worth $1,467,976,000 after buying an additional 620,217 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in ITT by 55,929.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate’s stock worth $263,458,000 after buying an additional 1,515,695 shares during the last quarter. Alliancebernstein L.P. increased its holdings in ITT by 11.2% during the third quarter. Alliancebernstein L.P. now owns 1,188,219 shares of the conglomerate’s stock worth $212,406,000 after buying an additional 119,601 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in ITT by 3.1% during the third quarter. Invesco Ltd. now owns 1,128,933 shares of the conglomerate’s stock worth $201,808,000 after buying an additional 34,183 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Price Performance

ITT opened at $194.86 on Monday. The company has a market capitalization of $17.42 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 1.83 and a beta of 1.32. The company has a quick ratio of 1.01, a current ratio of 1.53 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $201.55 and a 200-day moving average price of $191.35. ITT Inc. has a twelve month low of $145.41 and a twelve month high of $225.26.

ITT (NYSE:ITT) last posted its earnings results on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.21. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.12 billion. ITT had a net margin of 10.80% and a return on equity of 16.83%. The company’s revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the company earned $1.45 earnings per share. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. Equities analysts expect that ITT Inc. will post 7.91 EPS for the current year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 8th will be paid a $0.386 dividend. The ex-dividend date is Monday, June 8th. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. ITT’s dividend payout ratio (DPR) is presently 27.16%.

Insider Transactions at ITT

In other news, CAO Mesa Graziano Cheryl De sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $208.41, for a total value of $41,682.00. Following the completion of the transaction, the chief accounting officer directly owned 7,859 shares in the company, valued at approximately $1,637,894.19. This trade represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lori B. Marino sold 7,123 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $208.27, for a total transaction of $1,483,507.21. Following the completion of the transaction, the insider owned 8,729 shares of the company’s stock, valued at $1,817,988.83. This trade represents a 44.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 70,773 shares of company stock worth $13,624,470 over the last quarter. Corporate insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ITT shares. Citigroup raised their price objective on shares of ITT from $252.00 to $254.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings downgraded shares of ITT from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. Stifel Nicolaus set a $246.00 price objective on shares of ITT in a report on Thursday, May 7th. Wall Street Zen downgraded shares of ITT from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, KeyCorp raised their price objective on shares of ITT from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, ITT presently has an average rating of “Moderate Buy” and an average price target of $234.91.

About ITT

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.